The appeal by NZME and Fairfax to the High Court was heard in October after the Commerce Commission barred the deal in early May, after considering it for almost a year.

The owner of the New Zealand Herald said the court’s findings increased the range of estimated net benefits from the transaction to NZ$133 million ($96.92 million) to NZ$209 million, up from the NZCC’s estimated range of NZ$41 million to NZ$204 million.

NZME said the appeal to the country’s high court will focus on the issue of media plurality, which the court had considered to be outweighing the benefits of the merger. ■